Opening a full-fledged long-term program with the IMF will help reduce the budget deficit, Sergey Marchenko said.
In 2023, the need for additional external financing to cover Ukraine’s state budget deficit is $10 billion. This was said by the Minister of Finance Sergei Marchenko, the press service of the Ministry of Finance reported the previous day.
In particular, at a meeting with IMF Managing Director Kristalina Georgieva in Kiev on February 20, Marchenko said that the opening of a full-fledged long-term program at the IMF will help reduce the budget deficit, maintain macroeconomic and financial stability. In addition to raising funds directly from the IMF, it will help mobilize support from other donors.
According to the agency, the parties discussed the results of the fund’s mission to evaluate the Monitoring Program, which took place in Warsaw from February 13 to 17, as well as prospects for the creation of a new full-fledged program of cooperation in support of the IMF.
“Last week, during the IMF mission, we reached an agreement at the expert level on the revision of the Monitoring Program with the participation of the Board of Directors of the Fund. In this context, we look forward to the start of discussions on a fully-launched program with the support of the IMF, which will help ensure priority, in particular, humanitarian and social budget expenditures in 2023,” said Marchenko.
Recall that in 2023, the IMF estimated Ukraine’s needs for external financial assistance at $3-4 billion per month.
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Source: korrespondent
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